Earnings Release • Apr 25, 2012
Earnings Release
Open in ViewerOpens in native device viewer
25 April 2012
• Down 19% from the record performance in Q4 2011, expect to deliver management expectations of approximately 1.1 million tonnes in 2012
| '000 tonnes unless otherwise indicated | Q1 2012 | Q4 2011 | ∆% |
|---|---|---|---|
| Mining | |||
| Zinc in concentrate1 | 75 | 76 | (1)% |
| Gold ('000 troy ounces) | 16.1 | 21.8 | (26)% |
| Silver ('000 troy ounces)2 | 1,379 | 1,413 | (2)% |
| Copper in concentrate | 3.1 | 2.9 | 7% |
| Smelting | |||
| Zinc metal | 258 | 319 | (19)% |
| Lead metal (Port Pirie) | 39 | 45 | (13)% |
| Market | |||
| Average LME zinc price (USD/t)3 | 2,025 | 1,897 | 7% |
| Average exchange rate (EUR/USD) | 1.31 | 1.35 | (3)% |
Zinc in concentrate production from Nyrstar's mining operations in Q1 2012 was at similar level to the record level of production achieved in Q4 2011, and in line with management expectations and full year market guidance. Zinc in concentrate production at Nyrstar operated mines, which excludes the Talvivaara zinc stream, was 3% higher in Q1 2012 compared to Q4 2011. This reflects improved operating performance at Middle Tennessee Mines, the Contonga mine successfully obtaining its permit to expand milling capacity from 660 to 990 tonnes per day and the ramp-up of the Langlois mine, which is progressing in line with management expectations. Deliveries under the Talvivaara streaming agreement were down 27% in Q1 2012 compared to Q4 2011. Production was adversely impacted by downtime at the Talvivaara metals recovery plant due to the commissioning of a new water recycling system in January and an unscheduled stoppage following a fatality at the Talvivaara operation in March.
Production of other metals in concentrates in Q1 2012 was also in line with full year market guidance, with a 7% increase in copper in concentrate production and silver and lead in concentrate production maintained at similar levels to Q4 2011. Gold production in Q1 2012 was 26% lower than in Q4 2011, mainly due to mechanical issues with the filter press at the Coricancha mine and temporary access issues experienced at the El Toqui mine which resulted from demonstrations in relation to social conditions by communities across the region of Chile in which the mine is situated.
Campo Morado produced approximately 460,000 troy ounces of silver 3 Zinc price is average of LME daily cash settlement prices
1 Includes production from Nyrstar operated mines and deliveries under the Talvivaara streaming agreement
2 75% of the silver produced by Campo Morado is subject to a streaming agreement with Silver Wheaton Corporation whereby only USD 3.90/oz is payable. In Q1 2012,
During April 2012, the Coricancha mine, Peru, received a suspension order from the Peruvian mining authority (the Supervising Organisation of Investment in Energy and Mining (OSINERGMIN)) to temporarily cease its milling operations. The order concerns the storage and planned movement of legacy tailings to a new facility which has been constructed by Nyrstar. In accordance with the cessation order, activities were suspended at the Coricancha mill. Nyrstar is pursuing several courses of action to minimize the impact of the suspension and to recommence milling operations as soon as possible. Mining operations, exploration and development activities are not impacted and are currently continuing as normal. The impact on production at Coricancha cannot yet be reliably ascertained. A best estimate would indicate milling operations could be suspended until late Q2 2012; however, this is subject to a number of factors. Although the suspension of milling operations at Coricancha will impact the site's performance, the impact on Nyrstar's operational and financial performance is not expected to be material.
Zinc metal production at Nyrstar's smelters in Q1 2012 was approximately 258,000 tonnes, 19% lower than the record performance achieved at the smelters in Q4 2011. Production at the Balen/Overpelt smelter was impacted by national industrial action and an unplanned shut in Q1 2012, with the shortfall expected to be recovered during the remainder of 2012. Clarksville operations were disrupted by the need to temporarily shut the roaster to remove a frozen section of the roaster bed, while temporary issues with furnace inductors at Hobart limited production during Q1 2012.
Lead metal production at Port Pirie in Q1 2012 was 13% lower than Q4 2011, primarily due to the planned three week shut of the slag fumer which was announced in the full year 2011 results. Gold production at Port Pirie was approximately 16,000 troy ounces in Q1 2012, an increase of 129% compared to Q4 2011.
Financial performance in Q1 2012, relative to Q4 2011, benefited from the average zinc price increasing by 7% to USD 2,025/t and the euro depreciating against the dollar by 3% to average 1.31 during the quarter (impacting Nyrstar's earnings as they are largely denominated in US dollars, whereas a substantial proportion of operating costs are denominated in euros).
In February Nyrstar and Sims Metal Management successfully completed the sale of Australian Refined Alloys' secondary lead producing facility in Sydney, Australia (ARA Sydney) to companies associated with Renewed Metal Technologies for a total sale price of approximately EUR 60 million.
Management will discuss this statement in a conference call with the investment community on 25 April 2012 at 2:00pm Central European Time. The presentation will be webcast live on the Nyrstar website, www.nyrstar.com, and will also be available in archive. The webcast can be accessed via: http://www.media-server.com/m/p/4n6hygcj
| '000 tonnes unless otherwise indicated | Q1 2012 | Q4 2011 | ∆ % |
|---|---|---|---|
| Total ore milled | 1,549 | 1,575 | (2)% |
| Total zinc concentrate | 134 | 137 | (2)% |
| Total lead concentrate | 4.4 | 5.0 | (12)% |
| Total copper concentrate | 17.3 | 16.6 | 4% |
| Zinc in Concentrate | |||
| Campo Morado | 12 | 13 | (8)% |
| Contonga | 3 | 2 | 50% |
| Coricancha | 1 | 1 | - |
| El Mochito | 6 | 7 | (14)% |
| El Toqui | 6 | 7 | (14)% |
| Langlois | 3 | 1 | 200% |
| Myra Falls | 10 | 11 | (9)% |
| East Tennessee | 12 | 12 | - |
| Middle Tennessee | 12 | 10 | 20% |
| Tennessee Mines | 25 | 23 | 9% |
| Talvivaara Stream | 8 | 11 | (27)% |
| Total | 75 | 76 | (1)% |
| Lead in concentrate | |||
| Contonga | 0.4 | 0.3 | 33% |
| Coricancha | 0.3 | 0.4 | (25)% |
| El Mochito | 3.2 | 3.8 | (16)% |
| El Toqui | 0.3 | 0.2 | 50% |
| Myra Falls | 0.2 | 0.3 | (33)% |
| Total | 4.4 | 5.0 | (12)% |
| Copper in concentrate | |||
| Campo Morado | 1.2 | 1.4 | (14)% |
| Contonga | 0.3 | 0.2 | 50% |
| Coricancha | 0.3 | 0.2 | 50% |
| Langlois | 0.3 | 0.1 | 200% |
| Myra Falls | 1.1 | 1.1 | - |
| Total | 3.1 | 2.9 | 7% |
| Gold ('000 troy oz) | |||
| Campo Morado | 4.3 | 4.6 | (7)% |
| Coricancha | 4.4 | 4.9 | (10)% |
| El Toqui | 3.4 | 8.3 | (59)% |
| Langlois | 0.2 | - | - |
| Myra Falls | 3.8 | 3.9 | (3)% |
| Total | 16.1 | 21.8 | (26)% |
| Silver ('000 troy oz) | |||
| Campo Morado4 | 460 | 497 | (7)% |
| Contonga | 108 | 102 | 6% |
| Coricancha | 152 | 168 | (10)% |
| El Mochito | 391 | 433 | (10)% |
| El Toqui | 34 | 34 | - |
| Langlois | 41 | - | - |
| Myra Falls | 194 | 178 | 9% |
| Total | 1,379 | 1,413 | (2)% |
4 75% of the silver produced by Campo Morado is subject to a streaming agreement with Silver Wheaton Corporation whereby only USD 3.90/oz is payable. In Q1 2012, Campo Morado produced approximately 460,000 troy ounces of silver.
The Campo Morado operation produced approximately 12,000 tonnes of zinc in concentrate, 1,200 tonnes of copper in concentrate, 4,300 troy ounces of gold and 460,000 troy ounces of silver5in Q1 2012. This level of production was similar to levels achieved in Q4 2011. Ore milled volume was down slightly in Q1 2012 compared to Q4 2011 due to planned maintenance downtime, with zinc head grade and metal recoveries in line with the previous quarter. Gold production was intentionally limited in Q1 2012 and deferred as internal growth options are reviewed to improve overall gold recoveries.
In line with the previously announced timeframe, the Contonga mine successfully received the required permit to expand its milling capacity from 660 tonnes to 990 tonnes per day at the end of Q1 2012.
During Q1 2012, Coricancha produced approximately 4,400 troy ounces of gold, 152,000 troy ounces of silver, 1,000 tonnes of zinc in concentrate, 300 tonnes of lead in concentrate and 300 tonnes of copper in concentrate. Production was down compared to Q4 2011 and was mainly due to mechanical issues experienced with the filter press in the milling operations. As mentioned above, during April 2012, the Coricancha mine, received a suspension order from the Peruvian mining authority to temporarily cease its milling operation. The impact on production at Coricancha cannot yet be reliably ascertained. A best estimate would indicate milling operations could be suspended until late Q2 2012; however, this is subject to a number of factors. During this time, the Coricancha mine is taking a series of proactive steps, including bringing forward its preventative maintenance schedule at the mill; stockpiling ore in the underground workings to ensure significant volumes of ore are available for the restart of the mill; and completing a number of safety improvements that will allow the mill to operate at its maximum production capacity.
The El Mochito mine delivered a solid performance in Q1 2012, following on from a successful first full quarter under Nyrstar ownership in Q4 2011. Ore milled was down 6% in Q1 2012 compared to Q4 2011, with the depletion of surface ore stocks at the end of 2011 increasing production in the prior period. Grades were marginally lower in Q1 2012 compared to Q4 2011; however, there was a positive trend during the quarter reflecting the improved mix of lower grade mantos and higher grade chimney ore being fed to the mill.
Operations at El Toqui mine were impacted by demonstrations in relation to social conditions by communities across the Aysén region of Chile in which the mine is situated. Although these events were completely unconnected to the mine, they prevented the free movement of fuel, equipment, contractors and employees to and from the site, which led to the mill operating at a reduced level for approximately four weeks during March 2012. As a result, the volume of ore milled fell by 27% in Q1 2012 compared to Q4 2011; however, the zinc head grade improved 20% during this period. Gold production of approximately 3,400 troy ounces, was 59% lower than in Q4 2011, although the mine was able to minimise the impact on zinc in concentrate production, with only a 14% decline quarter on quarter.
The Langlois mine continued to ramp-up in line with management expectations during Q1 2012, producing approximately 3,000 tonnes of zinc in concentrate and 300 tonnes of copper in concentrate, both 200% higher than in Q4 2011. In addition Langlois commenced production of silver and gold, with 41,000 troy ounces and 200 troy ounces of production respectively. Towards the end of the first quarter the site successfully commissioned an on-line analyser, and in conjunction to the continued on-boarding and training of new operators, zinc recovery continued to improve during Q1 2012, up 10% from Q4 2011. Production is expected to continue to increase during Q2 2012, and as previously guided Nyrstar expects the Langlois mine to reach commercial production levels during Q2 2012.
Zinc in concentrate production at Myra Falls of 10,000 tonnes was slightly lower in the first quarter of 2012 compared to Q4 2011; however, this needs to be compared against the exceptional performance at the end of 2011. Grades achieved in Q1 2012 continue to exceed the proven and probable reserve base, with a 10% increase in the silver grade quarter on quarter. Recoveries were stable and are expected to improve during the year, with the commissioning of a new on-stream analyser at the mill. Silver production of 194,000 troy ounces in Q1 2012 was 9% higher than in Q4 2011, while copper in concentrate and gold was relatively flat.
5 75% of the silver produced by Campo Morado is subject to a streaming agreement with Silver Wheaton Corporation whereby only USD 3.90/oz is payable. In Q1 2012, Campo Morado produced approximately 460,000 troy ounces of silver.
With the ramp-up of the Middle Tennessee Mines completed at the end of 2011, the focus at both East and Middle Tennessee Mines is now the optimisation of mining and milling operations and the debottlenecking of operational processes. Leveraging off Nyrstar's group-wide Operational Excellence Programme, and using additional internal and external asset management, logistical, and underground mining expertise to support the mine's management and staff, the Tennessee Mines is continuing to improve its operating model to deliver a productive and profitable operation. During Q1 2012, the East Tennessee Mines maintained their performance, with production of approximately 12,000 tonnes of zinc in concentrate supported by stable ore milled volumes and zinc grade. At the Middle Tennessee Mines, zinc in concentrate production of 12,000 tonnes has now reached the same level as East Tennessee, up 20% in Q1 2012 compared to Q4 2011, supported by a 6% improvement in the zinc grade.
Deliveries of zinc in concentrate from Talvivaara under the zinc streaming agreement declined by approximately 27% in Q1 2012 to 8,000 tonnes, from 11,000 tonnes in Q4 2011. As forecast in the full year 2012 results, during Q1 2012 Talvivaara began to deliver concentrate by bulk rather than container shipping as a result of the successful reduction in the moisture content of concentrate. This has simplified the logistical process for the delivery of the concentrate between the Talvivaara mine site and Nyrstar's port facilities in Antwerp. On 19 April 2012, Talvivaara provided a production update for Q1 2012 where they announced that production during the quarter was adversely impacted by downtime at the metals recovery plant, resulting from the commissioning in January of environmental investments in a new water recycling system and unscheduled occupational safety related improvements following a fatality at the operation in March. Talvivaara have maintained their full year production guidance which equates to 50,000 to 60,000 tonnes of zinc in concentrate; however, they have stated that with the Q1 2012 production having been adversely impacted they expect full year production to be closer to the lower end of the range.
| Q1 2012 | Q4 2011 | ∆ % | |
|---|---|---|---|
| Zinc metal ('000 tonnes) | |||
| Auby | 41 | 43 | (5)% |
| Balen/Overpelt | 57 | 83 | (31)% |
| Budel | 66 | 73 | (10)% |
| Clarksville | 28 | 35 | (20)% |
| Hobart | 58 | 77 | (25)% |
| Port Pirie | 8 | 7 | 14% |
| Total | 258 | 319 | (19)% |
| Lead metal ('000 tonnes) | |||
| Port Pirie | 39 | 45 | (13)% |
| Other products | |||
| Copper cathode ('000 tonnes) | 1 | 1 | - |
| Silver ('000 troy ounces) | 2,893 | 5,746 | (50)% |
| Gold ('000 troy ounces) | 16 | 7 | 129% |
The smelting segment produced approximately 258,000 tonnes of zinc metal in Q1 2012. This production was approximately 19% lower than the record quarterly production achieved in Q4 2011 across the smelters. Consequently, acid production was also lower in Q1 2012 compared to Q4 2011, albeit by only 7%.
The Auby smelter performed well in Q1 2012, with zinc metal output close to full operating capacity and the indium metal project remaining on track with production expected to commence in the first half of 2012, in line with previous guidance. The Balen/Overpelt smelter was impacted by national industrial action and an unplanned shut in Q1 2012, with the
shortfall expected to be recovered during the remainder of 2012. Operations at the Budel smelter ran smoothly during the quarter with zinc metal production in line with management expectations. At Clarksville operations were disrupted by the need to temporarily shut the roaster to remove a frozen section of the roaster bed. Issues with furnace inductors that constrained smelting furnace capacity at the Hobart smelter temporarily impacted zinc metal production levels during Q1 2012. These issues are expected to be resolved with the replacement of an inductor that was installed in March and a further inductor which will be replaced during the second quarter.
Lead metal production at the Port Pirie multi-metal smelter declined 13% in Q1 2012 compared to Q4 2011, primarily due to the planned three week shut of the slag fumer which was announced in the full year 2011 results. Gold production at Port Pirie was approximately 16,000 troy ounces in Q1 2012, an increase of 129% compared to Q4 2011. The substantial increase in gold production is due to the planned processing of more complex raw materials and improvements to the gold recovery process. This reflects the continued focus to maximise the earnings contribution from across our metals footprint. Excluding the 2.8 million troy ounces of silver bearing material extracted from the precious metals refinery in the final quarter of 2011, silver production of approximately 2,893,000 troy ounces in Q1 2012 was at a similar level to Q4 2011. During Q1 2012, construction commenced on a tellurium extraction facility with production of tellurium concentrate scheduled to commence in Q2 2012. Annual production of approximately 50 tonnes of tellurium dioxide is expected from the plant.
Treatment charge negotiations progressed during Q1 2012, with the majority of zinc TCs for 2012 settled in line with the following approximate terms:
The lead raw materials market has not fully settled yet and although Nyrstar has settled some contracts for both High silver and Low silver lead concentrates, an exact benchmark has not yet been set.
As in previous years, opening inventories and some outstanding deliveries of zinc concentrates received during 2012 will be on treatment charge terms carried over from last year's contracts, however these are not expected to have a material impact on treatment charge income.
| Q1 2012 | Q4 2011 | ∆ % | |
|---|---|---|---|
| Ore Milled ('000 tonnes) | |||
| Campo Morado | 177 | 189 | (6)% |
| Contonga | 74 | 62 | 19% |
| Coricancha | 44 | 51 | (15)% |
| El Mochito | 196 | 209 | (6)% |
| El Toqui | 107 | 146 | (27)% |
| Langlois | 50 | 14 | 257% |
| Myra Falls | 112 | 128 | (13)% |
| East Tennessee | 402 | 400 | 1% |
| Middle Tennessee | 387 | 375 | 3% |
| Tennessee Mines | 789 | 775 | 2% |
| Total | 1,549 | 1,575 | (2)% |
| Zinc mill head grade (%) | |||
| Campo Morado | 8.05% | 8.06% | (0)% |
| Contonga | 4.60% | 4.32% | 6% |
| Coricancha | 1.97% | 1.77% | 11% |
| El Mochito El Toqui |
3.84% 6.44% |
4.05% 5.36% |
(5)% 20% |
| Langlois | 7.15% | 7.01% | 2% |
| Myra Falls | 9.17% | 9.33% | (2)% |
| East Tennessee | 3.27% | 3.29% | (1)% |
| Middle Tennessee | 3.27% | 3.09% | 6% |
| Tennessee Mines | 3.27% | 3.19% | 3% |
| Lead mill head grade (%) | |||
| Contonga | 0.70% | 0.69% | 1% |
| Coricancha | 0.88% | 0.97% | (9)% |
| El Mochito | 2.04% | 2.20% | (7)% |
| El Toqui | 0.49% | 3.00% | (84)% |
| Myra Falls | 0.51% | 0.61% | (16)% |
| Copper mill head grade (%) | |||
| Campo Morado | 1.00% | 1.11% | (10)% |
| Contonga | 0.71% | 0.54% | 31% |
| Coricancha | 0.71% | 0.54% | 31% |
| Langlois | 0.72% | 0.56% | 29% |
| Myra Falls | 1.18% | 1.14% | 4% |
| Gold mill head grade (g/t) | |||
| Campo Morado | 2.18 | 2.23 | (3)% |
| Coricancha | 3.46 | 3.44 | 0% |
| El Toqui | 1.30 | 2.40 | (46)% |
| Langlois | 0.21 | - | - |
| Myra Falls | 1.36 | 1.31 | 4% |
| Silver mill head grade (g/t) | |||
| Campo Morado | 148.58 | 151.08 | (2)% |
| Contonga | 54.91 | 59.83 | (8)% |
| Coricancha | 113.02 | 107.64 | 5% |
| El Mochito | 71.60 | 77.83 | (8)% |
| El Toqui | 12.94 | 10.48 | 23% |
| Langlois | 49.73 | - | - |
| Myra Falls | 60.23 | 54.81 | 10% |
| Q1 2012 | Q4 2011 | ∆ % | |
|---|---|---|---|
| Zinc recovery (%) | |||
| Campo Morado | 83.5% | 83.0% | 1% |
| Contonga | 90.8% | 90.6% | 0% |
| Coricancha | 83.5% | 79.7% | 5% |
| El Mochito | 84.8% | 84.8% | - |
| El Toqui | 92.4% | 85.0% | 9% |
| Langlois | 90.6% | 82.7% | 10% |
| Myra Falls | 89.3% | 92.4% | (3)% |
| East Tennessee | 93.4% | 93.3% | 0% |
| Middle Tennessee | 93.9% | 91.6% | 3% |
| Tennessee Mines | 93.7% | 92.4% | 1% |
| Lead recovery (%) | |||
| Contonga | 70.5% | 72.9% | (3)% |
| Coricancha | 75.0% | 75.2% | (0)% |
| El Mochito | 78.4% | 81.7% | (4)% |
| El Toqui | 41.4% | 36.0% | 15% |
| Myra Falls | 37.3% | 36.6% | 2% |
| Copper recovery (%) | |||
| Campo Morado | 66.4% | 65.4% | 2% |
| Contonga | 59.0% | 53.2% | 10% |
| Coricancha | 59.0% | 53.2% | 11% |
| Langlois | 72.2% | 73.9% | (2)% |
| Myra Falls | 76.4% | 75.0% | 2% |
| Gold recovery (%) | |||
| Campo Morado | 34.5% | 34.3% | 1% |
| Coricancha | 90.5% | 86.0% | 5% |
| El Toqui | 76.0% | 69.8% | 9% |
| Langlois | 55.6% | - | - |
| Myra Falls | 70.4% | 72.7% | (3)% |
| Silver recovery (%) | |||
| Campo Morado | 54.2% | 54.5% | (1)% |
| Contonga | 83.0% | 83.1% | (0)% |
| Coricancha | 95.1% | 94.0% | 1% |
| El Mochito | 85.1% | 85.3% | (0)% |
| El Toqui | 73.6% | 68.8% | 7% |
| Langlois | 51.2% | - | - |
| Myra Falls | 81.9% | 78.7% | 4% |
| Zinc concentrate ('000 tonnes) | |||
| Campo Morado | 24 | 26 | (8)% |
| Contonga | 6 | 5 | 20% |
| Coricancha | 1 | 1 | - |
| El Mochito | 12 | 14 | (14)% |
| El Toqui | 14 | 15 | (7)% |
| Langlois | 6 | 2 | 200% |
| Myra Falls | 18 | 20 | (10)% |
| East Tennessee | 20 | 20 | - |
| Middle Tennessee | 19 | 16 | 19% |
| Tennessee Mines | 39 | 36 | 8% |
| Talvivaara Stream | 13 | 18 | (28)% |
| Total | 134 | 137 | (2)% |
| Lead concentrate ('000 tonnes) | |||
| Contonga | 0.6 | 0.5 | 20% |
| Coricancha | 0.6 | 0.7 | (14)% |
| El Mochito | 5.2 | 6.0 | (13)% |
| El Toqui | 0.6 | 0.4 | 50% |
| Q1 2012 | Q4 2011 | ∆ % | |
|---|---|---|---|
| Myra Falls | 0.5 | 0.6 | (17)% |
| Total | 7.5 | 8.3 | (10)% |
| Copper concentrate ('000 tonnes) | |||
| Campo Morado | 9.1 | 10.4 | (13)% |
| Contonga | 1.2 | 0.7 | 71% |
| Coricancha | 1.2 | 0.7 | 71% |
| Langlois | 1.4 | 0.3 | 367% |
| Myra Falls | 4.4 | 4.4 | - |
| Total | 17.3 | 16.6 | 4% |
| Zinc in concentrate ('000 tonnes) | |||
| Campo Morado Contonga |
12 3 |
13 2 |
(8)% 50% |
| Coricancha | 1 | 1 | - |
| El Mochito | 6 | 7 | (14)% |
| El Toqui | 6 | 7 | (14)% |
| Langlois | 3 | 1 | 200% |
| Myra Falls | 10 | 11 | (9)% |
| East Tennessee | 12 | 12 | - |
| Middle Tennessee | 12 | 10 | 20% |
| Tennessee Mines | 25 | 23 | 9% |
| Talvivaara Stream | 8 | 11 | (27)% |
| Total | 75 | 76 | (1)% |
| Lead in concentrate ('000 tonnes) | |||
| Contonga | 0.4 | 0.3 | 33% |
| Coricancha | 0.3 | 0.4 | (25)% |
| El Mochito | 3.2 | 3.8 | (16)% |
| El Toqui | 0.3 | 0.2 | 50% |
| Myra Falls | 0.2 | 0.3 | (33)% |
| Total | 4.4 | 5.0 | (12)% |
| Copper in concentrate ('000 tonnes) Campo Morado |
1.2 | 1.4 | (14)% |
| Contonga | 0.3 | 0.2 | 50% |
| Coricancha | 0.3 | 0.2 | 50% |
| Langlois | 0.3 | 0.1 | 200% |
| Myra Falls | 1.1 | 1.1 | - |
| Total | 3.1 | 2.9 | 7% |
| Gold ('000 troy oz) | |||
| Campo Morado | 4.3 | 4.6 | (7)% |
| Coricancha | 4.4 | 4.9 | (10)% |
| El Toqui | 3.4 | 8.3 | (59)% |
| Langlois | 0.2 | - | - |
| Myra Falls | 3.8 | 3.9 | (3)% |
| Total | 16.1 | 21.8 | (26)% |
| Silver ('000 troy oz) | |||
| Campo Morado | 460 | 497 | (7)% |
| Contonga | 108 | 102 | 6% |
| Coricancha | 152 | 168 | (10)% |
| El Mochito | 391 | 433 | (10)% |
| El Toqui | 34 | 34 | - |
| Langlois Myra Falls |
41 194 |
- 178 |
- 9% |
| Total | 1,379 | 1,413 | (2)% |
This release includes forward-looking statements that reflect Nyrstar's intentions, beliefs or current expectations concerning, among other things: Nyrstar's results of operations, financial condition, liquidity, performance, prospects, growth, strategies and the industry in which Nyrstar operates. These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause Nyrstar's actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Nyrstar cautions you that forwardlooking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which Nyrstar operates may differ materially from those made in or suggested by the forward-looking statements contained in this news release. In addition, even if Nyrstar's results of operations, financial condition, liquidity and growth and the development of the industry in which Nyrstar operates are consistent with the forward-looking statements contained in this news release, those results or developments may not be indicative of results or developments in future periods. Nyrstar and each of its directors, officers and employees expressly disclaim any obligation or undertaking to review, update or release any update of or revisions to any forward-looking statements in this report or any change in Nyrstar's expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.
Nyrstar is an integrated mining and metals business, with market leading positions in zinc and lead, and growing positions in other base and precious metals; essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting, and other operations located in Europe, the Americas, China and Australia and employs over 7,000 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on NYSE Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website, www.nyrstar.com
Anthony Simms Group Manager Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 [email protected] Kate Dinon Group Manager Corporate Communications T: +41 44 745 8154 M: +41 79 722 84 66 [email protected] Geert Lambrechts Manager Corporate Communications T: +32 14 449 646 M: +32 473 637 892 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.